NAVIGATING THE DIGITAL PAYMENT LANDSCAPE IN MALAYSIAN SMES: POST-COVID-19 CHALLENGES AND KEY DRIVERS OF ADOPTION

Författare

  • Kumaran Kanapathipillai Faculty of Business, UNITAR International University, Tierra Crest, Jalan SS6/3, Kelana Jaya, 47301 Petaling Jaya, Selangor, Malaysia
  • Thomas Goh Siaw Ling Faculty of Business, UNITAR International University, Tierra Crest, Jalan SS6/3, Kelana Jaya, 47301 Petaling Jaya, Selangor, Malaysia
  • Loon Mun Loong Faculty of Business, UNITAR International University, Tierra Crest, Jalan SS6/3, Kelana Jaya, 47301 Petaling Jaya, Selangor, Malaysia
  • Barry Anak Rabong Faculty of Business, UNITAR International University, Tierra Crest, Jalan SS6/3, Kelana Jaya, 47301 Petaling Jaya, Selangor, Malaysia
  • Irwanshah Bin Subindin Faculty of Business, UNITAR International University, Tierra Crest, Jalan SS6/3, Kelana Jaya, 47301 Petaling Jaya, Selangor, Malaysia

DOI:

https://doi.org/10.46827/ejsss.v10i3.1784

Nyckelord:

digital payment, consumer purchase behaviour, technological readiness, merchants, government, small and medium enterprises

Abstract

This study aims to examine the relationships between perceived consumer purchase behaviour, technological readiness, and merchant and government support in driving the adoption of digital payments by Malaysian small and medium enterprises (SMEs) after the COVID-19 pandemic. The objectives are to provide data-driven insights into the factors enabling the transition to cashless transactions and Fintech solutions. The study surveyed 211 SME owners/managers in the Klang Valley, Malaysia, via questionnaires. The target population consisted of SMEs operating in sectors like food and beverage, retail, professional services, and manufacturing within the Klang Valley. The findings revealed that perceived technological readiness had a statistically significant positive relationship with digital payment adoption among the SMEs surveyed. However, perceived consumer purchase behaviour and merchant/government support did not show significant relationships with adoption. The implications suggest that enhancing SMEs' technological capabilities through infrastructure upgrades, employee training, and system compatibility is crucial for driving cashless adoption. Financial institutions can leverage these insights to design user-friendly digital payment solutions tailored to SME needs. SME owners can benefit by understanding areas requiring improvement in technological readiness for successful digital payment integration. Policymakers gain valuable information to create enabling environments through regulations, awareness campaigns, and support mechanisms. Ultimately, increased digital payment adoption by SMEs can enhance consumer convenience, financial inclusion, operational efficiency, and economic resilience. The study highlights collaborative efforts among stakeholders as vital for fostering a conducive ecosystem for SMEs' digital transformation.

 

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Författarbiografier

  • Kumaran Kanapathipillai, Faculty of Business, UNITAR International University, Tierra Crest, Jalan SS6/3, Kelana Jaya, 47301 Petaling Jaya, Selangor, Malaysia

    Kumaran Kanapathipillai, a prominent figure in academia, earned his PhD in Management and Business from Management and Science University (Malaysia). With an impressive tenure of 23 years in the academic world, he has honed expertise in areas such as management, marketing, supply chain management, and logistics management. Within academia, he plays a pivotal role in guiding and assessing both Masters and Ph.D. candidates. He also serves as an external examiner for several universities in Europe and Asia. Additionally, he is a peer reviewer for numerous academic journals. Beyond academia, he provides specialised training sessions on entrepreneurship, creative problem-solving, and project management across diverse industries. His scholarly pursuits predominantly concentrate on contemporary entrepreneurship, management, and marketing.

  • Thomas Goh Siaw Ling, Faculty of Business, UNITAR International University, Tierra Crest, Jalan SS6/3, Kelana Jaya, 47301 Petaling Jaya, Selangor, Malaysia

    Thomas Goh Siaw Ling, a Personal Financial Advisor with 18 years of experience in the banking industry, manages clients' fund portfolios and advises on insurance products. He obtained the IPPC (Investment Portfolio Planning Certificate) license from the Asian Institute of Chartered Bankers in 2018. Ling understands each client's unique financial needs and develops personalized strategies. He aims to stay updated with industry trends and technological advancements to provide comprehensive and innovative solutions.

  • Loon Mun Loong, Faculty of Business, UNITAR International University, Tierra Crest, Jalan SS6/3, Kelana Jaya, 47301 Petaling Jaya, Selangor, Malaysia

    Loon Mun Loong, holds a Bachelor's Degree in Accounting Finance from Anglia Ruskin University, is currently the Transaction Banking Sales Manager at Maybank Global Banking. He manages Commercial Banking Clients' trade and cash portfolios, provides holistic advice, and fosters strong relationships with stakeholders to ensure seamless experiences for both clients and Maybank.

  • Barry Anak Rabong, Faculty of Business, UNITAR International University, Tierra Crest, Jalan SS6/3, Kelana Jaya, 47301 Petaling Jaya, Selangor, Malaysia

    Barry Anak Rabong, a Personal Financial Advisor with Maybank, holds a Bachelor's Degree in Entrepreneurship with Honours from the Northern University of Malaysia and an IPPC professional qualification from the Asian Institute of Chartered Bankers. He specializes in investment, bancassurance, credit card, lending, and banking products, offering strategic advice, developing personalized financial plans, and staying updated on industry trends.

  • Irwanshah Bin Subindin, Faculty of Business, UNITAR International University, Tierra Crest, Jalan SS6/3, Kelana Jaya, 47301 Petaling Jaya, Selangor, Malaysia

    Irwanshah Bin Subindin, an Executive at Maybank Commercial Banking, holds a BBA and MIBF from Universiti Utara Malaysia and MARA University of Technology, respectively. His expertise lies in commercial banking, leveraging Islamic banking and finance knowledge. His academic background and professional experience contribute to the growth and success of the commercial banking sector.

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Nedladdningar

Publicerad

2024-07-31

Nummer

Vol 10 Nr 3 (2024)

Sektion

Articles